Assessment of stakeholders (analysis)

Developed by Carl Bygum Knudsen

Abstract

The assessment of stakeholders is a crucial element of any project or business strategy. It involves identifying, analyzing, and evaluating the stakeholders’ interests, potential, and influence to determine the best way to manage and interact with them. Stakeholder assessment, in essence, is the categorization and classification of stakeholders in a way that clarifies how each individual stakeholder should be managed.

This wiki article provides a comprehensive overview of the assessment of stakeholders, including a discussion of the key steps involved, some of the tools and techniques used, and the best practices. The article initially explains and discusses the importance of stakeholder assessment in project management.

The critical steps of the assessment process will be discussed followed by the different tools and techniques used to assess stakeholders at each step. The article includes and briefly describe tools that assists the overall process of stakeholder analysis such as brainstorming, various mapping tools, surveys and interviews, and other relevant data collection tools and techniques. The wiki article will touch upon these subjects but focus more on the tools that allow for the assessment of stakeholders such as stakeholder mapping and power-interest grid.

Finally, the wiki article will outline some of the potential challenges and risks associated with stakeholder assessment. These include the potential for conflict of interest, unequal access to resources, and difficulty in managing stakeholders with differing interests. In general, this article provides a comprehensive overview for project managers to understand and implement of the assessment of stakeholders and the key steps, tools, and best practices involved.

Assessment Process

Introduction

Stakeholder assessment is a part of the larger and complex task of stakeholder management. It is the initial process in stakeholder management of providing a clear understanding of stakeholders' interests and expectations, while stakeholder management is the ongoing process of engaging and meeting the expectations of stakeholders. To gain a thorough understanding of stakeholder assessment, it is crucial to explain the steps of stakeholder assessment in detail.

Brainstorm, identify and document stakeholders

The process of identifying the stakeholders in your project and how they could affect its goals is known as stakeholder identification. Identification of stakeholders is important to any project. This helps ensure that all individuals or groups affected by the project are identified and that their needs and expectations are taken into account, doing this right sets the project up for success.

The process of identifying stakeholders is an ongoing process, and it is a good idea to identify the stakeholders and manage them throughout the project life cycle as the stakeholder environment may be subject to change. Projects are usually highly complex and challenging in the beginning and it requires a lot of effort to determine who is going to be impacted by the project.

A good identification process starts with reviewing key documents. It is important to review all relevant project documents, such as project plans, requirements documents, business cases, and stakeholder registers from previous projects. By analyzing these documents, you can identify stakeholders who have been involved in similar projects and forecast their potential impact on the current endeavour. Additionally, reviewing organizational policies, regulations, and guidelines can help identify stakeholders who may have legal or regulatory requirements that need to be taken into account. To avoid misunderstandings, it is important to have a clear definition of stakeholders from the beginning of the project (Bendtsen et al. 2021).

However, projects usually have some sort of uniqueness and may similar projects may not have been carried out before. To find out which stakeholders your project will impact, using brainstorming as a tool to obtain this can be a great starting point. A brainstorming session is bringing together a group of individuals with different perspectives and experiences in order to generate ideas and perspectives on stakeholders that might be essential to the project, which can then be further analyzed and prioritized. Transparency and inclusiveness are important in these sessions, as they will allow the participants to speak more freely. Moreover, having a facilitator to guide the discussion will help maintain the focus.

Reviewing key documents and trying to utilize learnings from previous projects to one's advantage is a great first step. By using brainstorming techniques in collaboration with stakeholder mapping, project charter, and stakeholder register, you can create a comprehensive stakeholder identification plan that will set your project up for success.

Categorize and analyze their interests and potential

After stakeholders have been identified, documented and brainstormed upon, it is crucial to classify and evaluate their interests and potential effects on the project. This entails reviewing how the project's objectives correspond with the aspirations, expectations, and concerns of the stakeholders. By obtaining this information one can more easily comprehend their potential impact on the project and how to engage with them effectively.

Evaluate stakeholder influence and prioritize

After categorizing and analyzing the stakeholders, it is critical to assess their level of influence and prioritize them according to their importance to the project's success. Some stakeholders may wield more power than others, either because of their position within the organization or because of their level of interest in the project. Understanding the level of influence of stakeholders allows you to develop strategies for engaging with them effectively and managing their expectations.

Plan, implement, and communicate

The final step in the stakeholder assessment process is to develop a plan to engage with the stakeholders, implement the plan, and communicate with them throughout the project lifecycle. This involves developing communication strategies that are tailored to the needs and interests of each stakeholder group, and ensuring that stakeholders are informed of the project's progress and any changes that may impact them. By engaging with stakeholders throughout the project lifecycle, you can build trust and establish strong relationships that assist in making the project succesful.

Challenges and Risks

Conflict of Interest

Bendtsen et al 2020: Clear definition of stakeholders and how to determine power and influence?

References (In progress - may be subject to change)

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